🛢️ Oil Bearish possible retrace to 70 USD. 🛢️
The oil market has been experiencing a bearish trend, with prices potentially retracting to $70 USD. This downward movement can be attributed to a confluence of factors that are exerting pressure on oil prices.
**Economic Headwinds and Oversupply Concerns**
The global economic outlook remains uncertain, with key...
Ascending Triangle has formed on Brent Crude.
We saw the price continue to knock up the resistance until it broke above.
Price>20 and Price>200
So the target is likely to hit $96.00
When the US Dollar depreciates, it often leads to a rally in Brent Crude prices for several interconnected reasons.
1. Commodity Pricing
Global Benchmark:
Brent Crude is a...
From a long-term perspective, Oil, in this case, we use the Brent Last Day Financial by NYMEX CME, overall is trending downward!
It would be tempting to initiate a “sell on rise strategy” especially when a long term trend line (in blue) is challenged. The trend line majors the historical highs of Brent (BZ) as well as Crude (CL) since the second all-time-high...
I know this is crazy and all but hypothetically this is a "Head and shoulders" pattern. Right shoulder bounced from the level of support. But there is a slight possibility to go through it. If we calculate related levels then we will face great price drop.
📉 Breaking News: BRN Crude Oil Faces Bearish Pressure Amidst Global Uncertainty
Interest Rate Concerns: Federal Reserve Governor Christopher Waller’s recent comments hinting at delayed interest rate cuts have raised concerns about sluggish economic growth. As a result, oil demand is expected to be curbed, impacting BRN crude prices
Pipeline Shortage in Canada:...
Oil reversed gain quickly after the multifaceted sword chopped whatever little was left of supply-side momentum, keeping Oil prices afloat. The US labor market’s resilience pushed back hopes of potential “FED Monetary easing” until the second half of the year while the budding US banking crisis shook the ground beneath Oil prices.
Technically, Brent tried to...
Supply and demand zones are powerful tools to find high probability trades. If they are used in the correct context they offer a high win rate and a very controled risk. These are some of the characteristics that high quality zones have:
•When a good zone is being created in real time you will watch that price pushes down/up with aggressive price action and...
Brent oil prices fell below $73 per barrel during early Wednesday trading, carrying the momentum of the previous session and increasing losses to more than 10% this month. The price of the barrel has been in decline, weighed on by worries over future demand. This sentiment was exacerbated by yesterday’s release of US inflation figures, which remained above the...
All as mentioned in the chart. RR of 1:1
There is a TL breakout and RSI also showing a sell bias.
Oil fundamentals and OPEC indecisiveness leading to oil glut.
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Brent oil is going down to 78.25$ after bullish turn few days ago.
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Brent
on the daily chart, I see a technical signal that BRENT OIL is going up to test 87.
After closing 2 days above 87 or crossing 87.6, the target will be 90 and 92.5
Stop loss 81
But black gold
What is 100% clear and certain for me is that there is no seller in the upper price levels and the price level of $130 is empty of heavy sellers and oil has a target of $138.
But until the price reaches 138 dollars, many ups and downs are possible, because the weekly price structure is currently downward and the price has made a PA in the range of...
when oil is above $50 nations are busy producing goods
as the demand for the sweet crude in emerging markets accelerates
the pullback is necessary to maintain cost of production
otherwise it would be expensive for new economies to compete with developed nations
low priced oil means VOLUME play for producers and the middlemen benefits
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this is also timing for...
- The most recent conflict on the Middle East between Israel and Palestine(Hamas)
has caused TVC:GOLD and Brent Crude Oil (futures) ICEEUR:BRN1! price to jump 4% .
This increase risk on Geo-Political spectrum is messing up with our Short in ICEEUR:BRN1! .
Short Call idea was shared on bingX copy-trade community where 2.000 people saw the Short trade...
We are on a bull wave that started somewhere around 72.5. I have en eye on the dates of 12 and 30 to 31 with an interest in the type of candlesticks that will be formed. I also marked 3 price levels in case any candlestick shadows will appear near them.
The main question should be: where will this bullish wave end? or when. If it's not the end, is there an...
Purple droplets indicate where CPI peaks (pink line) and green arrows point to the corresponding oil peak.
Blue dotted lines measure where oil peaks to allow a reference point to S&P chart. Light blue is FED Funds rate.
